Suryachakra Power reports Q2FY26 loss amid ongoing liquidation
Suryachakra Power Corporation Limited reported a net loss of ₹0.38 lakh for Q2FY26 with zero revenue from operations. The company is undergoing liquidation proceedings, and the NCLT has approved its sale to Indo Aquatics Limited. Business operations have not yet commenced.
*this image is generated using AI for illustrative purposes only.
Suryachakra Power Corporation Limited reported a net loss of ₹0.38 lakh for the quarter ended September 30, 2025, as the company continues to record zero revenue from operations. The Board of Directors approved the unaudited standalone financial results for Q2FY26 on October 10, 2025, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The financial statement reveals that the company has not started any business operations. Total income for the quarter stood at ₹0.00 lakh, down from ₹2.00 lakh in the previous quarter ended June 30, 2025. Total expenses for Q2FY26 were ₹0.38 lakh, primarily driven by depreciation and amortisation expenses of ₹0.38 lakh. In comparison, the previous quarter saw total expenses of ₹5.83 lakh.
For the half-year ended September 30, 2025, the company reported a net loss of ₹4.21 lakh on a total income of ₹2.00 lakh. The loss for the corresponding period was attributed to depreciation and amortisation costs of ₹6.21 lakh and finance costs of ₹0.01 lakh. The paid-up equity share capital and earnings per share (EPS) remained at ₹0.00 for all reported periods.
The statutory auditor, Sai and Co., issued a Limited Review Report noting that the National Company Law Tribunal (NCLT), Hyderabad Bench, initiated liquidation proceedings against the company on September 1, 2022. By an order dated July 18, 2024, the NCLT approved the sale of the company as a going concern to Indo Aquatics Limited (IAL), assigned to Reddy Investments Private Limited (RIPL). The Liquidator has issued a Sale Certificate dated June 14, 2023. While the change in management is complete, other restructuring exercises, including changes in capital, are currently in process.
The acquirer is in the process of a complete takeover, including the transfer of records and papers. The company is also obtaining the latest shareholding data from its Registrar and Transfer Agent (RTA). The auditor's conclusions were modified in respect of the ongoing liquidation and sale process.
Financial Results for Q2FY26
| Particulars | Quarter Ended 30-06-2025 (₹ in Lakhs) | Quarter Ended 30-09-2025 (₹ in Lakhs) |
|---|---|---|
| Revenue from operations | 0.00 | 0.00 |
| Other income | 2.00 | 0.00 |
| Total income | 2.00 | 0.00 |
| Total expenses | 5.83 | 0.38 |
| Profit / (Loss) before tax | -3.83 | -0.38 |
| Net Profit / (Loss) | -3.83 | -0.38 |
Key Financial Metrics
| Metric | Half Year Ended 30-09-2025 (₹ in Lakhs) | Year Ended 31-03-2025 (₹ in Lakhs) |
|---|---|---|
| Total income | 2.00 | 0.00 |
| Total expenses | 6.21 | 7.90 |
| Net Profit / (Loss) | -4.21 | -7.90 |
What is the expected timeline for the completion of the capital restructuring exercises and transfer of records to the new management?
What specific business strategy or sector focus will Indo Aquatics Limited implement to restart the company's operations?
How will the pending changes in share capital and equity structure impact current stakeholders once the takeover is fully finalized?
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